kaal:claim:3402701-036

The Folk Theorems of game theory prove that no protocol, however complex or well engineered, can eliminate corruption, understood as behavior that profits a minority at the greater expense of the majority.

Finally, we repeat the idea that the Folk Theorems of game theory prove that it is impossible to create protocols, no matter how complex or well- engineered, which can eliminate corruption

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019), 3.4.4 Transcendental Values, p. 28
https://ssrn.com/abstract=3402701 · source PDF

Craig Calcaterra, Wulf A. Kaal, Vadhindran K. Rao, Stable Cryptocurrencies - First Order Principles (2019). SSRN: https://ssrn.com/abstract=3402701

failuresupport: arguedfailure: corruption-inevitabilityfamily: collective-action-and-coordination-failuregovernance-design

• restated_by kaal:claim:3782193-011 No set of written rules can be made complete: the Folk Theorems demonstrate that however rules are written, st...
• extended_by kaal:claim:3782210-022 Because eternally perfect protocols are impossible, as illustrated by Arrow's Impossibility Theorem and the Fo...
• restated_by kaal:claim:3406323-040 For any static set of rules in an infinitely repeated game using reputation stakes there is a way to subvert t...

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